Good monday morning. Welcome to squawk alley. Were at post nine john fort is live at one market in San Francisco what a morning, guys, for the first day of the second half of the year not only is the dow set a record high, transports setting the first record high since the beginning of march but you have the ten year at 234, above levels that they said were critical. What does this say the dow, the transports, financials, its coming to some degree at the expense of the big cap techs. Seems like a first of the month effect june if you remember, june 1st, market was up. 75 you have the 2430 in the s p 500. You closed june below. That it seems like a rush of money. People looking for that rotation to continue into july. Does it count on a shortened session . I it this prices count do we have a majority i dont know exaggerated on some level in term of the magnitude of the lift especially after the open certainly got our attention well see if we get any followthrough after the holiday. Join
The one sector that did not participate in the rally today was the Technology Sector. The best performing sector during the First Six Months of the year. Here are the closing numbers for you. The blue chip index advanced 129 points to 21,000. The nasdaq dropped 30, the s p 500 added 5. Also helping the climb today, the transportation sector which hit a record, that group is considered a key part of the market and the economy. And Morgan Brennen tells us where it may be headed next. The dow transports recently reversed court to out perform the broader market. Today was no exception. The dow jones hit a new high. Splashing a dow theory signal that means stocks could continue to gain ground. Analysts expect the strength of transports to continue. At least for now. A weak dollar and the unrelenting rise of e commerce should bode well for companies hauling goods. Ups and fedex will juggle a Record Number of packages this holiday season. Both are investing billions to do so. Ups has announce